Momentum mania is sweeping both Wall Street and the ASX, with the risk party continuing unabated on Friday night. The S&P 500 ended last week at fresh records, helped by a +28% gain by the NASDAQ this year.
The ASX200 closed up +0.15% on Thursday in an ultimately lacklustre session, which promised more in the morning before surrendering two-thirds of its gains through the afternoon. Tech and consumer discretionary names advanced over 1% while real estate lagged, slipping -1.4%. On the commodities front, the story remains the same, and it’s starting to get a little bit monotonous as we head into Christmas, less than three weeks away.
After yesterday's close, China Investment Corporation (CIC) launched a massive $1.9 billion selldown of market darling Goodman Group (GMG). Citi’s equities desk was looking to place 50.4 million GMG shares or about 2.6% of the company; to put things into perspective, only 3.7 million shares exchanged hands on Tuesday.
The ASX200 closed up +0.1% on Monday in a fairly lacklustre session, which again saw the local index unable to build on early gains. Over 50% of the main board closed higher, with interesting moves in the resources sector after Chinese manufacturing data beat estimates.
The ASX200 is set to test new highs early this week after US equities hit new milestones on Friday, even though it was only a half-day following Thanksgiving holiday. The path of least resistance remains on the upside, even on quiet days.
The ASX200 closed up +0.45% on Thursday, but again, after nudging a fresh all-time high, it drifted lower into the close, this time surrendering almost half of its late afternoon gains. The advance was patchy, with over 40% of the main board closing lower, but when the “Big Four Banks,” BHP, and CSL all rally, it's going to be a tough session for the bears.
The ASX200 rebounded +0.6% on Wednesday, retracing more than 50% of Tuesday's sell-off following Trump’s tariff threats, although we believe he simply reiterated his campaigning rhetoric. Gains were broad-based in the session, with all 11 sectors finishing higher and over 65% of the main board rose.
At 10:30 a.m. on Tuesday, Donald Trump reminded us that the next few months, potentially years, will likely deliver plenty of volatility and opportunity. Just 24 hours beforehand, markets had welcomed Scott Bessent’s selection as the next U.S. Treasury Secretary with open arms in the hope of a more gradual layering of economic tariffs.
The ASX200 closed up +0.3% on Monday, but it was a somewhat lacklustre session, with the index surrendering ~65% of its early morning gains. With 40% of the main board closing lower along with 3 of the Big 4 Banks, it was always going to be tough for the local index to make meaningful headway, although it did register another all-time high early in the morning.
The ASX200 closed up +0.15% on Thursday in an ultimately lacklustre session, which promised more in the morning before surrendering two-thirds of its gains through the afternoon. Tech and consumer discretionary names advanced over 1% while real estate lagged, slipping -1.4%. On the commodities front, the story remains the same, and it’s starting to get a little bit monotonous as we head into Christmas, less than three weeks away.
After yesterday's close, China Investment Corporation (CIC) launched a massive $1.9 billion selldown of market darling Goodman Group (GMG). Citi’s equities desk was looking to place 50.4 million GMG shares or about 2.6% of the company; to put things into perspective, only 3.7 million shares exchanged hands on Tuesday.
The ASX200 closed up +0.1% on Monday in a fairly lacklustre session, which again saw the local index unable to build on early gains. Over 50% of the main board closed higher, with interesting moves in the resources sector after Chinese manufacturing data beat estimates.
The ASX200 is set to test new highs early this week after US equities hit new milestones on Friday, even though it was only a half-day following Thanksgiving holiday. The path of least resistance remains on the upside, even on quiet days.
The ASX200 closed up +0.45% on Thursday, but again, after nudging a fresh all-time high, it drifted lower into the close, this time surrendering almost half of its late afternoon gains. The advance was patchy, with over 40% of the main board closing lower, but when the “Big Four Banks,” BHP, and CSL all rally, it's going to be a tough session for the bears.
The ASX200 rebounded +0.6% on Wednesday, retracing more than 50% of Tuesday's sell-off following Trump’s tariff threats, although we believe he simply reiterated his campaigning rhetoric. Gains were broad-based in the session, with all 11 sectors finishing higher and over 65% of the main board rose.
At 10:30 a.m. on Tuesday, Donald Trump reminded us that the next few months, potentially years, will likely deliver plenty of volatility and opportunity. Just 24 hours beforehand, markets had welcomed Scott Bessent’s selection as the next U.S. Treasury Secretary with open arms in the hope of a more gradual layering of economic tariffs.
The ASX200 closed up +0.3% on Monday, but it was a somewhat lacklustre session, with the index surrendering ~65% of its early morning gains. With 40% of the main board closing lower along with 3 of the Big 4 Banks, it was always going to be tough for the local index to make meaningful headway, although it did register another all-time high early in the morning.
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